Updated 2 months ago on . Most recent reply
Financing distressed properties
hi guys, my name is Keaton I currently live in Alaska and I'm looking to do some out of state investing in Alabama. I just sold two properties in Alaska and would like to reinvest that money in rental propertiesdown south. I do not have a portfolio nor have I worked in the rental game before. I also have not used banks to finance properties before but I do have near perfect credit but no experience with lenders. I'm looking to buy two distressed properties in the 30 to 70,000 range to hold for a long-term. I have a short four month period later this summer to do renovations. I also have the cash necessary to do renovations, renovations will be done myself not with contractors. I don't have the cash to purchase and renovate. Does anybody know about lenders that will lend under 50 K / 100 K etc. On distressed properties.